So it was a joyous moment for some when Galvan won a seat on Compton’s City Council in June. But a few weeks into his term, some are having misgivings about the councilman. Galvan had failed to file any of the required campaign finance disclosures for the primary and runoff elections. As his first official action, he hired Gonzalez. And according to public records and interviews, including information from a former roommate, he moved to Compton just in time to run for office.

India finance minister asks banks to ensure credit flow to industry

Alan Silvia, D-Fall River, over some egregious campaign finance violations involving his 2012 campaign for the 7th Bristol District seat. Its the second time that Silvias been fined by OCPF for campaign finance law violations since he was elected in 2012. In February, Silvia paid a $400 fine for using a public employee, Fall River Planning Board member Ernest Edwards, as his campaign treasurer. Edwards paid a $100 fine for the violation. While Silvia said he did not know Edwards role on the planning board disqualified him from serving as treasurer, when in doubt its best to find out.

Finance Ministry sends letters to indirect tax defaulters

Chidambaram on Thursday asked state-run banks to ensure flow of credit to every sector of industry, indicating the need for funding projects amid an economic slowdown. The banks have been asked to assist industrial borrowers who were facing difficulties and be sympathetic towards genuine defaulters, Chidambaram told a parliamentary panel attached to the finance ministry. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March — the lowest level in a decade — and most economists surveyed by Reuters in the past week expect 2013/14 to be worse. (Reporting by Manoj Kumar; Editing by Sunil Nair) Explore Related Content

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The letters are being issued by two lead intelligence agencies under the Finance Ministry–Directorate General of Central Excise Intelligence (DGCEI) and Directorate General of Revenue Intelligence (DGRI)– and Commissionerates of Service Tax and Central Excise, spread across the country, officials said. The DGCEI is sending the letters to service tax and excise duty defaulters and the DGRI is issuing these correspondences to suspected customs duty evaders, they said. The letters are being sent to an entity or an individual to seek clarification on a financial transaction, red flagged by economic intelligence agencies as black money or seen as an attempt to dodge authorities from paying taxes, carried out by them, they said. The number of letters issued to the entities were not immediately known.

Finance minister asks banks to ensure credit flow to industry

Credit: Reuters/Adnan Abidi NEW DELHI | Thu Aug 29, 2013 8:46am EDT NEW DELHI (Reuters) – Indian Finance Minister P. Chidambaram on Thursday asked state-run banks to ensure flow of credit to every sector of industry, indicating the need for funding projects amid an economic slowdown. The banks have been asked to assist industrial borrowers who were facing difficulties and be sympathetic towards genuine defaulters, Chidambaram told a parliamentary panel attached to the finance ministry. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March — the lowest level in a decade — and most economists surveyed by Reuters in the past week expect 2013/14 to be worse.